Sugar price provided additional negative trades yesterday to move away from 17.70$ level and confirm the continuation of the bearish trend domination on the intraday and short-term basis, noting that the waited negative target declines to 16.65$.
The negative pressure formed by the EMA50 supports the expected bearish trend, noting that breaching 17.70$ followed by 18.05$ levels will stop the bearish wave and lead the price to turn to rise.
The expected trading range for today is between 16.80$ support and 17.65$ resistance
Trend forecast: Bearish
